§ 17401 Lease-Purchase Agreement Definition

• •A 'lease or agreement' includes something called a 'lease-purchase agreement'.
• •This means if you have a deal where you can rent something and later buy it, this law covers it.
• •This rule started in 1997 but didn’t really kick in until 1998.

You rent a TV with an option to buy it later.

This law says that deal is treated like a regular lease, even though you might buy the TV later.